The global Cardiac Safety Services Market was valued at USD 384.9 million in 2018 and is expected to reach USD 895.7 million by the year 2026, at a CAGR of 11.0%. Cardiac safety is one of the major causes of the Clinical trial delay and drug abandonment. Cardiac Safety services are essential in monitoring the abnormalities of the heart.
However, the rise in the R&D expenditure in the pharmaceutical & biopharmaceutical industry and increased R&D activities, and the increasing number of clinical trials are fuelling the growth of the market. Also, the advent of new technologies in the cardiac services market is offering growth opportunities for players in the market. However, the high cost of cardiac safety evaluation is hindering the growth of the market.
WHO has reported that Cardiovascular diseases (CVDs) are the primary cause of death globally and have estimated about 17.9 million lives each year. The Asia Pacific region has obtained remarkable growth due to the government initiatives for clinical trials and also due to research and development in drug development etc.
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Key Coverage of the Report
- Region and country-wise assessment from the period 2019-2026. For the study, 2019-2019 has been utilized as historical data, 2018 as the base year, and 2019-2026, has been derived as forecasts
- Regional Competitors clinical pipeline analysis
- Demand and Supply GAP Analysis
- Market share analysis of the key industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
Salient Trends of the Cardiac Safety Services Market
- In the year 2019, OMRON Healthcare, Inc. had launched a new device for blood pressure monitoring; it was the first wearable blood pressure monitor and was a breakthrough in digital health service. It helps in monitoring the blood pressure regularly and sharing the data with their doctors to advance their treatment for better outcomes and also to manage hypertension.
- In the year 2019, Kang Lee from the (University of Toronto, Canada), had to discovered a method for estimating blood pressure using a smartphone camera. Here a person does a 30-second scan using the front-facing camera. It uses reflected light to detect blood flow under the skin. Combining this information with real-time B.P. measurements, researchers developed a method known as transdermal optical imaging for measuring B.P. based on a facial scan. The device was capable to predict the systolic, diastolic, and pulse pressures with an accuracy of 94.81% to 95.75%.
- FDA, in the year 2019, had cleared a Patient-monitoring device form Biobeat it is a patch and watch for measurement of blood pressure, oxygenation, and heart rate in hospitals, clinics, and at home. It is based on reflective photoplethysmography (PPG). The devices use several LED sources, wavelengths, and proprietary algorithms to receive the PPG signal free of background noise. Healthcare providers can obtain patient information through an app. The watch can be worn for three days, and the patch is designed for single use of up to 10 days. The patch and the watch shows similar results.
- The InBody USA in the year 2019, had announced the launch of the BPBIO 320S for the U.S. Market. The BPBIO 320S is a professional, fully automated, self-testing blood pressure device. InBody use technology to raise the standard in ease of use, accuracy, and reproducibility for bioelectrical impedance analysis testing and also to improve health
Companies considered and profiled in this market study
Biotrial (France), Banook Group (France & Canada), Bioclinica (a subsidiary of Cinven, US), Certara L.P. (U.S.), Celerion, Inc. (U.S.), ERT, Inc. (U.S.), Laboratory Corporation of America Holdings (U.S.), Medpace Holdings, Inc. (U.S.), Ncardia AG (Belgium), Richmond Pharmacology (U.K.), PhysioStim (France), Shanghai Medicilon Inc. (China), Pharmaceutical Product Development LLC (U.S.), SGS S.A. (Switzerland), BioTelemetry, Inc. (U.S.), IQVIA (U.S.), OMRON Healthcare, Inc (Japan), Biobeat (U.S.) InBody USA (U.S.),and Microsoft (U.S.) are the key players in the Cardiac Safety Services market.
- By the Product and service segment, ECG or Holter devices have obtained the largest market share in the year 2018 of about 31.5% due to the increase in the cardiac abnormalities among the individuals because of lifestyle habits like smoking, consumption of alcohol, and also because of the rise of geriatric population.
- By End-use segment, pharmaceutical companies have obtained a remarkable growth largest market value of about USD 171.8 million in the year 2018 and are expected to rise with a CAGR of 11.2% in the forecast due to a rise in the incidences of cardiovascular diseases.
- As per the application segment integrated Standalone devices have obtained the highest growth as it provides high-quality centralized safety clinical trials for cardiac safety services
- The Asia Pacific held a market share of 19.3% in the year 2018 due to a rise in patient pool in the region and also due to lifestyle habits like smoking. Asia Pacific is expected to rise by 2026, with a CAGR of 12.1%.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2019-2026 For the purpose of this study, Reports and Data have segmented the Cardiac Safety Services Market on the basis of products and service, applications end use, and region
Products and services Outlook (Revenue in Million USD; 2019–2030)
- ECG/Holter Measurement
- Blood Pressure Measurement
- Cardiovascular Imaging
- Thorough Q.T. Studies
- Other Services
Applications Outlook (Revenue in Million USD; 2019–2030)
- Integrated Services
- Standalone Services
End Use Outlook (Revenue in Million USD; 2019–2030)
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Research Organizations
Regional Outlook (Revenue in Million USD; 2019–2030)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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